Moody's Investors Service ("Moody's") says that the outlook for sovereign creditworthiness in the Commonwealth of Independent States (CIS) in 2018 is stable overall, in view of the healthy economic growth and stable oil prices seen after the region-wide economic shock of 2014-16.
Azerbaijan’s sovereigns is Ba2 and Outlook is stable. However, fiscal space has diminished significantly, government debt increased and interest rates rose. Current levels of oil prices relieve pressure on terms of trade. Moody's expects oil prices to remain within a range of $40 to $60 per barrel over the medium term, which will support modest growth for oil exporters in the coming years.